Crypto ETF Month — November 2024: net +$7.5B
November 2024 saw substantial net inflows into crypto ETFs, totaling +$7.5B, with Bitcoin and Ethereum being the primary beneficiaries. Institutional investments played a key role in this growth.
TL;DR
- Net flow: +$7.5B
- Total inflows: +$8.2B
- Total outflows: -$659.7M
- Strongest day: Nov 7 (+$1.5B) · Weakest day: Nov 4 (-$604.3M)
Monthly Overview
In November 2024, net flows into spot crypto ETFs totaled +$7.5B, driven primarily by Bitcoin and Ethereum. Only two assets recorded inflows, indicating a concentrated interest in these cryptocurrencies.
Flows by Asset
BTC
Net: +$6.5B / Inflow: +$6.9B / Outflow: -$411.1M
| Fund | Flow |
|---|---|
| BlackRock | +$5.6B |
| Fidelity | +$962.9M |
| Grayscale | -$363.9M |
| Grayscale BTC | +$211.5M |
| VanEck | +$71.2M |
| Bitwise | -$40.4M |
| 21Shares | +$15.5M |
| Franklin | +$12.8M |
| Valkyrie | -$6.8M |
| Invesco | +$0.5M |
ETH
Net: +$1.1B / Inflow: +$1.3B / Outflow: -$248.6M
| Fund | Flow |
|---|---|
| BlackRock | +$760.3M |
| Fidelity | +$309.7M |
| Grayscale | -$246.6M |
| Grayscale ETH | +$120.4M |
| Bitwise | +$73.8M |
| VanEck | +$39.1M |
| Invesco | +$2.5M |
| 21Shares | -$2.0M |
Weekly Breakdown
| Week | Net flow |
|---|---|
| Nov 1 | -$65.8M |
| Nov 4 – Nov 8 | +$1.8B |
| Nov 11 – Nov 15 | +$2.2B |
| Nov 18 – Nov 22 | +$3.3B |
| Nov 25 – Nov 29 | +$331.4M |
Biggest Fund Moves
Largest inflows
- BlackRock (BTC): +$5.6B
- Fidelity (BTC): +$962.9M
- BlackRock (ETH): +$760.3M
- Fidelity (ETH): +$309.7M
- Grayscale BTC (BTC): +$211.5M
Largest outflows
- Grayscale (BTC): -$363.9M
- Grayscale (ETH): -$246.6M
- Bitwise (BTC): -$40.4M
- Valkyrie (BTC): -$6.8M
- 21Shares (ETH): -$2.0M
Market Interpretation
Bitcoin led the inflows with a net increase of +$6.5B, largely attributed to significant contributions from BlackRock and Fidelity. Ethereum also saw positive movement, with a net inflow of +$1.1B, primarily from the same institutional players. The strongest day was November 7, with inflows of +$1.5B, while the largest outflow occurred on November 4, showing a potential moment of volatility for investors.
Conclusion
The month concluded with strong inflows, emphasizing the ongoing interest in Bitcoin and Ethereum. Overall, the net figure for the month stood at +$7.5B.